Mumbai, Oct. 22 -- Two- and three-wheeler manufacturer Bajaj Auto Ltd, which reported a 19% YoY drop in its profit after tax at Rs.1,138 crore and 8% decline in its turnover at Rs.7,442 crore during the September quarter, recorded growth in its earnings before interest, taxes, depreciation and amortization or Ebidta margins during the period.

Bajaj Auto's Ebidta margins grew from 16.9% in Q2FY20 to 18.2% for the September quarter despite YoY decline in its overall exports and the three-wheeler volumes, which is the most profitable segment for the company.

"Our margins have improved YoY despite the headwinds we have faced in the past quarter. The three-wheeler volumes, which is a very profitable business for us, crashed and is at only 25...